-constrained consumers’ access to financial markets make demand insensitive to interest rate fluctuations. The demand of credit … price sector influence aggregate demand and, for monetary policy to have its desired effect, the central bank has to …

The most basic economic theory suggests that rising incomes in developing countries will deter emigration from those … transition in every decade since 1960. It then briefly surveys 45 years of research, which has yielded six classes of theory to …

scant attention is that immigrants, as consumers of the goods they help produce, contribute to their own demand. We examine … the effects of an immigration shock on labor demand by testing a general equilibrium model in which imperfectly … substitution of immigrants for natives; (ii) out-migration; and (iii) stimulation of labor demand. According to (iii), native wages …

. Polarization of employment demand is the more credible explanation for the more recent evolution. As in other developed economies …

optimal currency area. It is of particular interest currently in the context of high and rising levels of labour market …